How Is Someone Even Allowed To Get 35 Credit Cards?

[Music] brought to you by the Ramsey Network app download today to go further with ramsy from the Ramsey Network app we get our question from Cory Dave you recently took a call where the person had 35 credit cards how do the banks even allow someone to get that many cards actually a good question Cory Cory that's sweet that you are naive enough to think that the banks even think that's sweet that you would think Common Sense would enter into this transaction that's so sweet Corey uh no it doesn't and you know this is the same kind of mentality Corey that you've got that people say well I I must be able to handle the payment or they wouldn't have given it to me no they'll give it to you the same yeah whatever the payment is they'll approve you for the loan Way Beyond 18-year-old $200,000 in loans for for call it sure sure right yeah just they just just like I'll hand it to you so Corey the most aggressively here's an interesting fact this is let's just take it even a step back further we now at this moment in 2024 in America the United States live in the most marketed to sold to culture in the history of the world world in the history of the human race you will receive more marketing Impressions on your ears and eyes and brain in this coming calendar year than any set of humans ever has in history that's pretty interesting when you think about it and when you are sold that much stuff people buy that much stuff and among the most marketed two group of people in the history of the human race the most aggressively marketed product in the most aggressively marketed time in history is debt debt is a product they sell it they sell home equity loans they sell student loans they sell car loans they sell private loans loans they sell title loans they sell any kind of Home Loans uh any kind of loan you can dream up put the word put a word in front of the word loan and it happens dog loans cat loans there are loans for everything I was trying to buy a t-shirt for God's sakes and they offered me payments on it with Clara the other day I'm like it's a t-shirt why would you yeah three easy payments of a126 I mean come on you know it's like what on a $5 t-shirt I'm kidding I don't I don't remember that that's wasn't the number 10 easy payments it's at the end of every transaction 20 easy payments of a12 whatever it is yep yeah and they're always easy payments no one says hard payments right Y and yet when you make them they're always hard they're not easy so and among the most aggressively marketed debt products the most aggressive ly marketed debt product debt being the most aggressively marketed product in the most aggressively marketed two group of people in the history of the human race is credit cards Corey American distress Visa Master Card they're your new master and discover bondage together spend those four names spend more American Express I said that one yeah American distress they together they will spend a billion dollars on marketing that's more than beer it's more than Chevy pickup trucks going through mud puddles more than all your car advertising put together more than any other category of advertising what's in your wallet says the failed actor mhm the actor who can't get aart now what's in your wallet or the great actress because they're paying billions or millions of dollars to her too so yeah cuz they have it got to admit I'm a Jennifer fan but there was a um that's who I was thinking of Jennifer Gardner yeah she's actually great but Maverick her dad would not be proud I'm just saying I know and I'm trying to look up because it was sent to me by multiple people and now I can't find it so anyway the credit card is the most aggressively marketed product out there and so in the midst of that they are issuing credit s in Mass to people who can't pay them don't need them including dead people dogs we used to collect bizarre credit card stories remember that and I had a guy send me one from Virginia he as a joke which was fraudulent and he shouldn't have done this but as a joke he applied for a credit card in the name of Buck Naked okay they issued the card to buck buck got him a card another guy sent me from New Orleans a credit card an actual card he sent me the card and a letter it was um issued to fruu who was his poodle who had died and that was unsolicited it they picked it up off the AKC registration and meant to send it to the owner of the dog instead issued the card in Mass to the dogs literally it's gone to the dogs and so I mean th this is the credit card world so please God don't think you're special if somebody gave you a credit card I mean when I was in college I thought well if they give me if I can get an American Express then by God I'm successful and if I get a gold piece of plastic versus a silver piece of plastic then I'm really someone because of the color of my plastic and you get to pay more fees to get those cards the color of my plastic dictates the quality of my personal identity yep so Cory that's what you're dealing with yeah uh yeah we could we we've had people with 200 credit cards um there are people that um are that that believe that credit cards are excellent and um they have their own YouTube channel and all this stuff on how you can live off of the points and how you can be the card man or whatever and all this stuff right um yeah so it's it's it's a thing because it's so prevalent that any can get more credit cards than they can pay so that's that's how Corey because the you know you're making the sweet and naive assumption that the bank actually cares about you and would look at you and say you can't afford this so we're not going to do harm to you no they don't that none of that is true they will do harm to you in a heartbeat if they get the opportunity and just to remember that they're they're here to make money off of you and they know how to do it like that's their job that's their job and there was a recent clip it went crazy but the um you were just trying to find yes and I found it the president of or whoever it was of MasterCard and Visa it was the two they have 80% of the market share and they're in front of congressing because of antitrust yeah and well and they can't they won't lower fees for small businesses like they give deals to Big corporations like Walmart and and they have to verbalize and say what they're making their profit margin it makes you sick it makes you realize literally off the backs of Americans This is what they're making like it is they make and we know we I know we know that they make billions and billions and billions but as you sit there and watch these two people you're like oh my God and they're not even you know from any level of Integrity trying to help small businesses even though we're against credit cards but like even that right I mean everything is about making money it's all they're in it for and so they know how to do it really well and they Market it to you and bring you into this cycle and this mindset of it that is very it's crazy so just remember if you're issued a new credit card you're no better than fru or a buck moral the story look up the Congress clip the dead pole or the naked guy that doesn't exist there you go one of the two I mean you're no better than either this is the Ramsey Show brought to you by the Ramsey Network app download today to go further with Ramsey